China-EU financial relations are growing

Friday, December 4, 2009

Chinese President Hu Jintao met with the European Union’s leaders Jose Manuel Barroso and Fredrik Reinfeldt in Nanjing, Jiangsu Province, China. The EU leaders were in China to attend Monday’s twelfth China-European Union (EU) summit. Barroso said China-EU relations are “more mature, deeper” then before.

China-EU trading relations have grown over the last 35 years. The volume of trade between the pair reached US$425.58 billion in 2008, an increase of 19.5% over the prior year. Bilateral relations are far closer now than in previous years.

Swedish Prime Minister, Fredrik Reinfeldt, said the Lisbon Treaty would help strengthen EU-China relations. Summit attendees also talked about nuclear non-proliferation, disarmament, human rights, climate change, combating financial crisis and financial investments.

Before the twelfth China-EU summit, Chinese Premier Wen Jiabao met with EU delegates in Nanjing, and the trading partners celebrated the 35th anniversary of diplomatic relations.